Principal Associate - Quantitative Analyst - Credit Risk Loss Forecasting
Category Data Science
Experience Principal Associate
Primary Address New York, New York
OverviewNYC 299 Park Avenue (22957), United States of America, New York, New YorkPrincipal Associate - Quantitative Analyst - Credit Risk Loss Forecasting
At Capital One data is at the center of everything we do. As a startup, we disrupted the credit card industry by individually personalizing every credit card offer using statistical modeling and the relational database, cutting edge technology in 1988! Fast-forward a few years, and this little innovation and our passion for data has skyrocketed us to a Fortune 200 company and a leader in the world of data-driven decision-making.
As a Quantitative Analyst in Capital One’s Commercial Bank, you’ll be part of a team using modern technology to disrupt, generate insights, and drive critical business planning. The Commercial Bank has a $100B+ loan portfolio that has grown organically and via acquisitions, covering Commercial and Industrial, Commercial Real Estate, and Structured Products.
On this team, you’ll get an opportunity to develop credit loss models, decomposed into dual risk ratings for probability and severity of loss, for a diverse set of portfolios with a diverse set of tools and challenges. This will involve blending business thinking and economic fundamentals with quantitative tools to forecast rare credit default and loss events. It’s a growing team, full of exciting opportunities to solve complex problems across a range of portfolios.
Responsibilities and Skills:
Lead a team of quantitative analysts to develop deep modeling expertise, business context, and relationships in a business vertical, e.g., Commercial & Industrial lending, or Structured Products lending
Create credit risk rating models that are robust, intuitive, well-grounded, and that support Commercial business and credit experts in their decision making.
Collaborate with other credit modeling functions (e.g., ACL, CCAR) to ensure a coherent and cohesive suite of models to forecast losses for the entire Commercial Bank.
Work effectively with challenge functions to ensure prompt and comprehensive support.
Maintain the existing suite of models and tools for accuracy, compliance, and user support.
Understand technical issues in econometric and statistical modeling and apply these skills toward developing models and assessing model risks and opportunities.
Effectively communicate technical subject matter to individuals from various backgrounds both verbally and through written materials.
Identify opportunities to apply quantitative methods and automation solutions to improve business performance and process efficiencies.
Expertise in quantitative analysis is central to our success in all markets. Our modelers thrive in a culture of mutual respect, excellence and innovation.
Successful candidates would possess:
Strong understanding of quantitative analysis methods in relation to financial institutions.
Demonstrated track-record in statistical-learning and econometric analysis.
Desire to remain on the leading edge of analytical technology with a passion for the newest and most innovative tools.
Strong coding skills in R or Python and drive to create efficient, accurate, and maintainable code with best practices
Ability to clearly communicate modeling results to a wide range of audiences.
Drive to develop and maintain high quality and transparent model documentation.
Reverence for processes, controls, governance, and building good infrastructure
Ability to manage a small team and complex projects that require cross-team collaboration
Bachelor’s Degree plus at least 5 years of experience in data analytics, or Master’s Degree plus at least 3 years of experience in data analytics (can include Graduate School Research work) or PhD.
At least 2 years of programming experience.
PhD in Statistics, Economics, Mathematics, Financial Engineering, Operations Research, Engineering, Finance, Physics or related disciplines.
5 years of experience in statistical modeling or regression analytics or machine learning.
4-6 years of credit risk modeling experience for commercial bank, such as default probability, loss given default, exposure at default etc.
2 years of experience managing a team of analysts
Capital One will consider sponsoring a new qualified applicant for employment authorization for this position.
The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.Location is New York City- $156,596 and $184,748 for Prin Assoc, Quant Analysis
Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate’s offer letter.No agencies please. Capital One is an Equal Opportunity Employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex, race, color, age, national origin, religion, physical and mental disability, genetic information, marital status, sexual orientation, gender identity/assignment, citizenship, pregnancy or maternity, protected veteran status, or any other status prohibited by applicable national, federal, state or local law. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City’s Fair Chance Act; Philadelphia’s Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.
If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at RecruitingAccommodation@capitalone.com. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.
For technical support or questions about Capital One's recruiting process, please send an email to Careers@capitalone.com
Capital One does not provide, endorse nor guarantee and is not liable for third-party products, services, educational tools or other information available through this site.
Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).
How We Hire
We take finding great coworkers pretty seriously.
Step 1 Apply
It only takes a few minutes to complete our application and assessment.
Step 2 Screen and Schedule
If your application is a good match you’ll hear from one of our recruiters to set up a screening interview.
Step 3 Interview(s)
Now’s your chance to learn about the job, show us who you are, share why you would be a great addition to the team and determine if Capital One is the place for you.
Step 4 Decision
The team will discuss — if it’s a good fit for us and you, we’ll make it official!
How to Pick the Perfect Career Opportunity
Overwhelmed by a tough career choice? Read these tips from Devon Rollins, Senior Director of Cyber Intelligence, to help you accept the right offer with confidence.
Your wellbeing is our priority
Our benefits and total compensation package is designed for the whole person. Caring for both you and your family.
Healthy Body, Healthy Mind
You have options and we have the tools to help you decide which health plans best fit your needs.
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Here’s how the team fits together. We’re big on growth and knowing who and how coworkers can best support you.
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